NASDAQ 100 (US100) – Week 11 – New record high expected.

Nasdaq futures rose at the market open, pointing to an extension of a recovery in tech stocks that were responsible for the February sell-off. The implementation of the stimulus package, an improving economic data, accompanied by mass vaccinations fueled Wall Street with some positive market sentiment.
Today’s highlight will be the FOMC meeting, where policymakers are considering raising the economic forecast and repeat their pledge to remain accommodative for the foreseeable future.
From a technical perspective, we anticipate that the price will be making an attempt to fully recover the February losses. With this being said, we can witness a new record high, with 14000.0 level strongly on the cards.
The trendline break-out acted as a confirmation for the expected bullish move and any pullback can give a nice trading opportunity.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move

Comment:

Quick update: If the price breaks the support area and consolidates, the chance to break the low again highly increase. Trade with care!